July 18

Intel Corporation was established on July 18, 1968, by Robert Noyce and Gordon Moore in Mountain View, California. Initially focused on memory chip production, the company quickly innovated in semiconductor technology. In 1971, Intel introduced the world’s first commercially available microprocessor, the 4004, transforming the computing industry. The success of the microprocessor fueled the rise of personal computers and embedded systems worldwide. Over the following decades, Intel’s processors set industry standards for performance and reliability. Today, Intel remains a global leader in semiconductor design and manufacturing, driving advances in computing power.

On July 18, 2013, the city of Detroit, Michigan, filed for Chapter 9 bankruptcy protection. With liabilities reportedly reaching up to $20 billion, it became the largest municipal bankruptcy in U.S. history. The city faced decades of population decline, industrial job losses, and skyrocketing pension obligations. Key creditors included city workers, retirees, and bondholders all vying over limited assets. The filing allowed Detroit to restructure its debts but also sparked debates over public sector pensions and urban revitalization. Federal oversight boards were appointed to supervise the city's financial recovery plan. Detroit's bankruptcy became a landmark case for other struggling municipalities across America.